Direct-to-consumer (D2C) beauty products brand MyGlamm has acquired baby-care products startup The Moms Co for an undisclosed sum through its House of Brands-oriented platform Good Glamm Group.
The Moms Co said in a statement that the acquisition also “marked India's largest D2C transaction to ever take place in the beauty and personal care segment”.
The deal size is around Rs 500 crore, people familiar with the deal said.
The Moms Co will continue as an independent brand and aims to grow to a Rs 500 crore annual revenue run rate in the next two years, the company said.
The Moms Co was founded in 2016. The startup offers natural products for pre- and post-natal care as well as babies.
It has over 30 stock-keeping units, and says that it has served over five lakh customers across over 15,000 pin code areas in the country. The company has a physical presence in five cities across the country and more than one million customers.
The firm had earlier raised funding from the likes of early-stage venture capital firms Saama Capital as well as DSG Consumer Partners and Shripad Nadkarni, co-founder of food startup Fingerlix and beverages firm PaperBoat.
Sanghvi Beauty and Technologies, the Mumbai based company that owns MyGlamm, was founded in 2017 by Darpan Sanghvi and Priyanka Gill. The company claims to be India’s fastest-growing D2C beauty brand, with a range of over 800 cruelty-free and vegan products across categories such as makeup, skincare, and personal care. It also has over 10,000 offline points-of-sale across 70 cities of India.
The company prior to this struck two other acquisitions- online parenting platform BabyChakra and women-centric content platform POPxo.
The company had earlier this year raised Rs 530 crore in a Series C round of funding led by venture capital firm Accel India.
Note: The article has been changed to reflect the deal size.